10 brokers compared · 2026

The best forex brokers in 2026

We compared 20 forex brokers on what actually affects your results: the all-in cost of a trade, who regulates the entity holding your money, and whether the platform fits how you trade. These are the ten that came out on top for traders outside the United States. If you live in the US, see our best US forex brokers instead.

By the FXBroker research desk · Updated October 2026 · Advertiser disclosure

01IGBest overall: top-tier safety, 17,000+ markets and outstanding research.
02PepperstoneBest for active traders: raw spreads on every major platform with FCA, ASIC and BaFin regulation.
03IC MarketsLowest costs for scalpers and EAs, with cTrader and TradingView.
04Interactive BrokersInterbank FX pricing alongside stocks, futures and options.
05ExnessInstant withdrawals and tight gold spreads.
06XMBest for small first accounts, from a $5 deposit.
07FP MarketsLow $6 round-turn commission on five platforms.
08CMC MarketsThe widest choice of 330+ currency pairs.
09SaxoBank-grade platform for larger accounts.
10XTBPolished xStation 5 platform with no minimum deposit.

#	Broker	Score	EUR/USD	Raw / lot	Min. dep.	Regulators	Platforms	Links
01	IGTraders who want the biggest market range and top-tier safety	4.8	0.9pips	n/a	$0	FCAASICBaFin+5	MT4TradingView	Visit Review
02	PepperstoneActive traders who want tier-1 regulation and raw pricing	4.6	1.1pips	$8all-in	$0	ASICFCACySEC+4	MT4MT5cTraderTradingView	Visit Review
03	IC MarketsScalpers and algo traders who want raw spreads	4.4	0.8pips	$8all-in	$200	ASICCySECFSA (Seychelles)+1	MT4MT5cTraderTradingView	Visit Review
04	Interactive BrokersProfessional and multi-asset traders	4.7	n/a	$5all-in	$0	SECFINRACFTC+7	Own platform	Visit Review
05	ExnessInstant withdrawals and very high leverage	4.1	1.0pips	$7all-in	$10	FCACySECFSCA+3	MT4MT5	Visit Review
06	XMBeginners funding a small first account	4.1	1.6pips	$8all-in	$5	CySECASICDFSA+2	MT4MT5	Visit Review
07	FP MarketsLow-cost cTrader and TradingView trading	4.4	1.0pips	$7all-in	$100	ASICCySECFSCA+3	MT4MT5cTraderTradingView	Visit Review
08	CMC MarketsForex variety and charting on a proprietary platform	4.7	0.7pips	n/a	$0	FCAASICCIRO+4	MT4TradingView	Visit Review
09	SaxoWealthier traders who want a bank-grade multi-asset platform	4.6	0.8pips	n/a	$0	Danish FSAFCAASIC+4	TradingView	Visit Review
10	XTBEuropean beginners who want a polished platform	4.5	0.9pips	n/a	$0	KNFFCACySEC+3	Own platform	Visit Review

Spreads are typical values during liquid hours and change constantly. Raw / lot = raw EUR/USD spread converted at $10 per pip plus round-turn commission. Data checked October 2026. How we score.

IG

Best overall: top-tier safety, 17,000+ markets and outstanding research.

4.8/5

IG is the world’s largest CFD provider by revenue and one of the safest brokers you can choose. It offers 80+ forex pairs and more than 17,000 markets overall, with excellent platforms, research and education.

Pros

FTSE 250 listed, 50 years in business
Huge range of 17,000+ markets
Tight EUR/USD spreads from about 0.6 pips

Cons

MT5 and cTrader are not offered
Some fees on share CFDs and data subscriptions

EUR/USD: 0.9 pips
Raw / lot: n/a
Min. deposit: $0
Regulators: FCAASICBaFinMAS+4
Platforms: IG Web, IG App, MT4, ProRealTime

Pepperstone

Best for active traders: raw spreads on every major platform with FCA, ASIC and BaFin regulation.

4.6/5

Pepperstone matches IC Markets on cost while offering stronger tier-1 regulation, including the FCA and BaFin. Its Razor account delivers raw spreads with a low commission across MT4, MT5, cTrader and TradingView, and there is no minimum deposit.

Pros

Razor account with raw spreads and $7 round-turn commission
FCA, ASIC, CySEC and BaFin regulation
MT4, MT5, cTrader and TradingView

Cons

Product range is narrower than IG or Saxo
Not available to US residents

EUR/USD: 1.1 pips
Raw / lot: $8.0
Min. deposit: $0
Regulators: ASICFCACySECBaFin+3
Platforms: MT4, MT5, cTrader, TradingView

IC Markets

Lowest costs for scalpers and EAs, with cTrader and TradingView.

4.4/5

IC Markets is one of the largest true-ECN style brokers by forex volume. Its Raw Spread account pairs near-zero EUR/USD spreads with a flat commission, and it supports MT4, MT5, cTrader and TradingView, which makes it a default choice for scalpers, EA users and high-volume day traders.

Pros

Raw spreads averaging around 0.1 pips on EUR/USD
MT4, MT5, cTrader and TradingView all supported
Fast execution suited to scalping and expert advisors

Cons

$200 minimum deposit is higher than XM or Exness
Limited in-house research and education

EUR/USD: 0.8 pips
Raw / lot: $8.0
Min. deposit: $200
Regulators: ASICCySECFSA (Seychelles)SCB (Bahamas)
Platforms: MT4, MT5, cTrader, TradingView

Interactive Brokers

Interbank FX pricing alongside stocks, futures and options.

4.7/5

Interactive Brokers gives retail traders institutional forex pricing: spreads from about 0.1 pips and a small commission based on trade value. It is also the most complete multi-asset broker available, but its professional platforms have a steeper learning curve.

Pros

Interbank spreads with very low commissions
Trade forex alongside stocks, futures, options and bonds
S&P 500 listed with the strongest regulatory profile

Cons

Trader Workstation is complex for beginners
No MetaTrader support

EUR/USD: No spread-only account
Raw / lot: $5.0
Min. deposit: $0
Regulators: SECFINRACFTCNFA+6
Platforms: Trader Workstation, IBKR Desktop, IBKR Mobile, Client Portal

Exness

Instant withdrawals and tight gold spreads.

4.1/5

Exness is one of the highest-volume retail brokers in the world, known for automated instant withdrawals, tight spreads on gold and majors, and very high leverage for eligible offshore clients. It is especially popular in South Africa, Asia and the Middle East.

Pros

Automated instant withdrawals on most payment methods
Tight spreads on gold (XAU/USD) and major pairs
Low $10 minimum deposit on Standard accounts

Cons

Most retail clients are served by offshore entities
Smaller product range than multi-asset brokers

EUR/USD: 1.0 pips
Raw / lot: $7.0
Min. deposit: $10
Regulators: FCACySECFSCAFSA (Seychelles)+2
Platforms: MT4, MT5, Exness Terminal, Exness Trade App

XM

Best for small first accounts, from a $5 deposit.

4.1/5

XM is one of the most popular forex brokers worldwide, especially in Asia, Africa and Latin America. A $5 minimum deposit, micro lots, frequent webinars and a well-built mobile app make it beginner-friendly, while the XM Zero account offers raw pricing for more active traders.

Pros

Very low $5 minimum deposit and micro accounts
Excellent free education, webinars and daily analysis
MT4 and MT5 on every account type

Cons

Standard account spreads are wider than raw-spread rivals
No cTrader or native TradingView trading

EUR/USD: 1.6 pips
Raw / lot: $8.0
Min. deposit: $5
Regulators: CySECASICDFSAFSCA+1
Platforms: MT4, MT5, XM App

FP Markets

Low $6 round-turn commission on five platforms.

4.4/5

FP Markets is an Australian ECN broker founded in 2005. Its Raw account charges $6 round turn with spreads from 0.0 pips, and it supports MT4, MT5, cTrader, TradingView and Iress for share trading.

Pros

Low $6 round-turn commission on Raw
Five platforms including cTrader and TradingView
ASIC, CySEC and FSCA regulation

Cons

Education is basic
Not available in the US or UK

EUR/USD: 1.0 pips
Raw / lot: $7.0
Min. deposit: $100
Regulators: ASICCySECFSCAFSA (Seychelles)+2
Platforms: MT4, MT5, cTrader, TradingView

CMC Markets

The widest choice of 330+ currency pairs.

4.7/5

CMC Markets is a London-listed broker offering an unusually large range of 330+ currency pairs and crosses, competitive spreads from 0.5 pips on EUR/USD and the feature-rich Next Generation platform.

Pros

330+ forex pairs, the most of any broker we track
Tight spreads from 0.5 pips on EUR/USD
Next Generation platform with pattern recognition

Cons

No MT5 or cTrader
Platform depth can overwhelm beginners

EUR/USD: 0.7 pips
Raw / lot: n/a
Min. deposit: $0
Regulators: FCAASICCIROMAS+3
Platforms: CMC Next Generation, CMC App, MT4, TradingView

Saxo

Bank-grade platform for larger accounts.

4.6/5

Saxo is a licensed Danish bank offering more than 180 FX spot pairs, FX forwards and options, and over 70,000 instruments in total. Its SaxoTraderGO and PRO platforms are excellent, with pricing improving at higher account tiers.

Pros

Licensed bank with top-tier regulation
The widest forex range we track, plus FX options
Excellent professional platforms

Cons

No MetaTrader
Best pricing requires large balances

EUR/USD: 0.8 pips
Raw / lot: n/a
Min. deposit: $0
Regulators: Danish FSAFCAASICMAS+3
Platforms: SaxoTraderGO, SaxoTraderPRO, TradingView

XTB

Polished xStation 5 platform with no minimum deposit.

4.5/5

XTB is a publicly listed European broker with an excellent in-house platform, xStation 5, no minimum deposit and strong education. Forex spreads are competitive and commission-free on the Standard account.

Pros

Listed on the Warsaw Stock Exchange
xStation 5 is fast and intuitive
No minimum deposit

Cons

No MetaTrader since 2024
Not available in the US

EUR/USD: 0.9 pips
Raw / lot: n/a
Min. deposit: $0
Regulators: KNFFCACySECDFSA+2
Platforms: xStation 5, XTB App

How we chose these brokers

Regulation: At least one tier-1 licence (FCA, ASIC, CySEC, BaFin, CFTC/NFA or similar) and a clear statement of which entity serves which clients.
All-in cost: Typical EUR/USD spread plus commission per round-turn standard lot, on both standard and raw accounts.
Platforms: Availability and quality of MT4, MT5, cTrader, TradingView and proprietary apps.
Range & tools: Number of currency pairs, other markets, research, education and risk tools.

Scores use our standard methodology. Rankings on this page also weight the specific criteria above.

Frequently asked questions

Which forex broker is the best?

There is no single best broker for everyone. In our ranking IG scores highest overall, Pepperstone is the best pick for active traders and IC Markets is the cheapest for scalpers. US residents should choose a CFTC-registered broker such as tastyfx, FOREX.com or OANDA.

Which forex broker has the lowest spreads?

Raw-spread brokers such as IC Markets, Pepperstone and FP Markets offer EUR/USD spreads averaging around 0.1 pips plus a commission of $6 to $7 per round-turn lot. Interactive Brokers is also extremely cheap for larger trades.

How do I know if a forex broker is regulated?

Search the broker’s legal entity name or licence number on the regulator’s own register, for example the FCA Financial Services Register, ASIC Connect, the CySEC website or NFA BASIC for US firms.

Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly. Between roughly 60% and 89% of retail investor accounts lose money when trading CFDs, depending on the provider. Consider whether you understand how they work and can afford to lose your money. Read the full risk warning.